Central Pacific Financial Corp. (NYSE:CPF) Short Interest Up 5.5% in October

Central Pacific Financial Corp. (NYSE:CPF) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 737,500 shares, a growth of 5.5% from the October 15th total of 698,800 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 229,500 shares, the short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

Separately, StockNews.com upgraded Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Central Pacific Financial Stock Down 0.6 %

NYSE CPF traded down $0.19 on Tuesday, hitting $30.77. 127,294 shares of the company were exchanged, compared to its average volume of 194,115. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The company has a market cap of $832.94 million, a PE ratio of 14.65 and a beta of 1.14. The stock has a fifty day moving average of $28.74 and a 200-day moving average of $25.04. Central Pacific Financial has a 12 month low of $16.95 and a 12 month high of $32.21.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPF. Basswood Capital Management L.L.C. acquired a new position in shares of Central Pacific Financial during the third quarter valued at about $15,455,000. Acadian Asset Management LLC lifted its holdings in shares of Central Pacific Financial by 359.7% in the first quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock valued at $9,140,000 after purchasing an additional 362,232 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after buying an additional 268,719 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Central Pacific Financial by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after buying an additional 77,868 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Central Pacific Financial by 17.8% during the second quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider’s stock valued at $10,846,000 after purchasing an additional 77,265 shares in the last quarter. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.